Which is better on tax return?
I claimed 1 the whole year and made $30,000 should i claim both kids or my girlfriend claimed 1 and made $5,000 should i claim 1head of house and her claim 1 with EF which way will we get the most back or should we claim joint and EF
2007-01-02 09:53:34 · 3 answers · asked by clark 2 in Business & Finance ➔ Taxes ➔ United States
earned income not EF
2007-01-02 09:54:57 · update #1
You can't file a joint return because you are not married. I gave up doing the math each way, but after looking at the EIC tables and estimating your taxes if YOU claim both children, I'm guessing your best bet is to claim both yourself. Your girlfriend makes less than the standard deduction. That means her tax liability is zero. I believe you are eligible for the EIC and Head of Household if you claim both children. If I am correct this reduces your taxable income by $9000 and your tax before the EIC by $900. The difference between your EIC with 2 children and your girlfriend's with 2 children is only $678. That means you are ahead $222.
Use the 1040 and instructions linked below and do the math each way.
2007-01-02 10:36:08 · answer #1 · answered by STEVEN F 7 · 1⤊ 0⤋
Calculate the tax all ways to determine which is best for you. Once you have all the data, working it through should not be a big task.
2007-01-02 18:01:54 · answer #2 · answered by kearneyconsulting 6 · 1⤊ 0⤋
asked same question again?
do what is legal..
or let tax account do it for you.
2007-01-02 18:01:47 · answer #3 · answered by cork 7 · 0⤊ 1⤋